LMT - Lockheed Martin bags contracts totaling $401M for US Navy and Army

2023-09-18 07:25:45 ET

Lockheed Martin Aeronautics ( NYSE: LMT ) is awarded a ~$196.54M cost-plus-incentive-fee, cost reimbursable contract. This contract provides for the upgrade of the verification and validation systems being utilized in the U.S. Reprogramming Laboratory; and the Norway Italy Reprogramming Laboratory, in support of aligning with the upgraded Block Two and Five capabilities, as well as automating and accelerating the verification and validation process for mission data files for the F-35 Joint Strike Fighter program. Work is expected to be completed in June 2028.

Another contract for Lockheed Martin Aeronautics ( LMT ) is a not-to-exceed $100M cost-plus-fixed-fee modification (P00002) to a previously awarded contract (N0001923C0009). This modification exercises an option to procure software licenses, prototypes, digital twins, and associated test hardware required to support F-35 Block Four early capability development for the Air Force, Navy, Marine Corps, and non-Department of Defense participants. Work is expected to be completed in March 2026.

The Naval Air Systems Command is the contracting activity for both contracts.

The company also bagged another ~$104.7M modification (P00006) to contract W31P4Q-23-C-0008 for Long-Range Hypersonic Weapon ground support equipment. Work has an estimated completion date of Feb. 28, 2028. The Army Contracting Command is the contracting authority for this contract.

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